Silver (XAG) remains under pressure as the rise in US inflation keeps further rate hikes by the Fed in focus. The recent pullback in the US dollar could offer a rebound in silver prices, but the high cost of energy and the risk of higher interest rates may limit a recovery. In my view, silver needs to hold the support zone of $50-$55 and break above $60 to strengthen the outlook. This article presents the key economic drivers and technical levels that could shape the next move in the US dollar index and silver prices.
Silver Price Forecast: Fed Hike Risks Weigh Despite Dollar Weakness
By:
Key Points:
- Fed rate hike risks could limit silver’s recovery.
- Silver needs to defend support at $50–$55.
- A break above $60 could open the way towards $72.